Integrated Wealth Concepts LLC Sells 197 Shares of Crown Holdings, Inc. (NYSE:CCK)

Integrated Wealth Concepts LLC cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,539 shares of the industrial products company’s stock after selling 197 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Crown were worth $243,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CCK. GAMMA Investing LLC increased its position in shares of Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares in the last quarter. Covestor Ltd increased its holdings in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Crown in the third quarter valued at approximately $44,000. Catalyst Capital Advisors LLC acquired a new position in shares of Crown in the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCK. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Loop Capital upped their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Truist Financial raised their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Robert W. Baird upped their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Morgan Stanley raised their price target on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Activity

In other Crown news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,006 shares of company stock valued at $2,478,049 in the last quarter. Company insiders own 0.90% of the company’s stock.

Crown Stock Down 0.2 %

Shares of Crown stock opened at $87.88 on Friday. The business has a fifty day simple moving average of $92.45 and a 200 day simple moving average of $87.44. The stock has a market cap of $10.51 billion, a PE ratio of 108.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Research analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Crown’s dividend payout ratio is 123.46%.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.